The Power Of Kepepet

Saturday, June 6, 2009

In today's economy we are seeing new challenges. We are seeing problems that are far worse and even seeing some that we have never seen before. So what can we do? With every problem comes a solution. We've got countless old solutions for the old problems, but what do we do with these new problems?

I'll get to that. But first I want to address the current situation that I see causing the biggest problems. Right now, it appears that many businesses are choosing to simply hang on and ride it out. "Just getting through each day", they say. Well, that is fine if you plan on today being your last day in business. For businesses that plan on being successful, "riding it out" or "just getting through the day" is not enough.

What can your business do to achieve success? What is the difference between the businesses that are struggling and those that are succeeding in the current climate? These successful businesses are still looking to the future. They are planning ahead and focusing on the long-term goals that helped them get here in the first place. If they only focused on today, what would they do tomorrow? Probably just play catch-up from all of the short-sighted mistakes made today (not to mention yesterday and the day before).

Businesses that plan ahead are thriving in all areas. One of the most critical areas these days is health care. By implementing employee health management programs, businesses are able to plan and adjust rather than simply react to rising costs. You guessed it; the businesses planning ahead are thriving, while the businesses stuck in today's tasks are surviving...at best.

These proactive health solutions have helped companies take control of their spending. These solutions have helped companies grow while they invested in their workforce and avoided many of the crippling costs that are sinking the "survivors". Those that have failed to take a proactive, forward-thinking approach have continued to see rising costs and decreasing workforce productivity, company morale and employee retention. Does that sound like a recipe for success?

Business Health Expert Joe Byrd uses his passion and expertise to bring business and health together. He integrates health education in lifestyle topics such as Stress Management, Weight Management, and Smoking Cessation into businesses in order to accomplish the following:Improving Employee HealthDecreasing Health Care Spending Increasing Your Employee ProductivityImproving Employee Satisfaction and RetentionJoe applies his craft in the business world by making health part of business strategy. As he helps companies invest in their employees, together they create healthy and successful cultures.

Tuesday, June 2, 2009

Getting started on the business plan is often the biggest hurdle in the whole process of business planning. The project can be overwhelming. While the concept of business planning has tremendous merit, the actual implementation of the process can be daunting, even if you have written a business plan before. One of the most effective ways of completing any project, is to break it into smaller more manageable segments.

Business Plan CalendarDevelop a calendar for the target dates for completion of the business plan by segment. 30 days is a reasonable amount of time to complete your plan. Most business plans take between 40 to 120 hours to complete.

You can work on more than one part of the business plan at the same time. You can research say, competition, while you write the industry section.

Assuming you start the business plan on July 1, your calendar could look something like this:

July 1-Day 1 Start Business Plan and Business Plan Accomplishments Calendar

Day 2 Begin Industry and Economic Review Research

Day 4 Complete Historical Background of the Company SectionYou already know most of the information about the historical background of your own company, it should be a matter of consolidating the information, editing it and then polishing. You can probably write this in just a few hours.

Day 5 Complete Industry and Economic Review

Day 6 Begin Goals, Objectives and StrategiesThis task is rather comprehensive and will take a few days to complete. Think of it as a brainstorming exercise that determines the future of your company.

Day 7 Begin Competition Analysis Research

Days 8-12 Work on Goals, Objectives and Strategies

Day 9 Complete Management SectionMost entrepreneurs know who their management team will be, or what gaps they have in their management team, so this section is relatively easy. Remember the objective of this section: Show how your management team is uniquely qualified to make this business a success.

Day 12 Complete Goals, Objectives and Strategies

Day 13 Begin Research to determine pricing, costs, and processes for the product section

Day 14 Complete Business Model SectionAgain, you should have this pretty well defined just by having determined that you're going to start the company.

Day 15 Complete Product/Service SegmentThe product section is usually one of the easiest for entrepreneurs.

Day 16 Complete Competition SectionThis is the first section that may be a bit of a challenge.

You're halfway through the 30 days and you've completed seven sections of your business plan.

Day 17 Begin determining the Market and make a first attempt at financial projections.

Day 18 Complete Operations, Production and Facilities Section This section is pretty cut and dried and shouldn't be difficult to complete.

Day 19 Continue Market determination, start Marketing Strategies

Day 20 Complete the Market SectionAnother section that can be a challenge but there's time for revision if necessary.

Day 22 Complete the Ownership SectionThis is one of the easier sections of the plan.

Day 23 Begin seriously working on the expense assumptions for financial projections

Day 24 Complete the first draft of the marketing strategies section.

Day 25 You now should have all the pieces in place to have a realistic first run at financial projections.

Day 26 Complete the Marketing Strategies Section Refine projections

Day 27 Complete the Financial Structure Section Refine projections

Day 28 Complete Strengths and Weaknesses, Final proofing of all sections

Day 29 Final Financial Projections

July 31 -- Day 30 Completion of Business Plan

You can write a business plan in 30 days.

Free business plan format. Dee Power is the author of Business Plan Basics on how to write a business plan and several other nonfiction books, as well as the novel, "Over Time" Money, love, and football: All the important things in life. Her other nonfiction books include "The Publishing Primer: A Blueprint for an Author's Success," "58 Ways to Find Money for Your Business, "Inside Secrets to Venture Capital" and "Attracting Capital From Angels."

Exiting from many businesses is often a haphazard affair. Some owners do not treat their business as an investment, merely as a job. Others overvalue their business, under-explain its value or not see the value as others may see the value.

A strategy by definition creates future opportunities and increases freedom of action in many possible futures.

A plan drives you down one path with a purpose - and with good grace not over a cliff.

This is the first of a series of articles on designing your exit from the business so, that at a time of your choosing, you will have built financial wealth through your business and can transfer the business with the maximum value to a buyer who will pay you for the privilege.

Most business owners' begin filled with the hope of success and with inspired dreams that would bring great success. Perhaps the hope was for financial independence, for more money, more security to work hard with the prospect of the luxury of free time later, or for personal fulfillment and for peace of mind. Maybe they dream for greater freedom for control over their own fate, for meaningful challenges and escape from the day today and drudgery of working for someone else.

They find themselves running a business, with loyal and talented staff, great customers and proven systems for making money. Life as a business owner is more complicated and strewn with unexpected challenges, one of which is to transfer the business, get your time and money out from under the business and put it toward fulfilling your life's hopes.

There are two bridges to cross to create meaningful value for you the business owner, maintain its value that attracts the right successor or buyer, and allows you to get back your time and money.

The first bridge is to decide to treat the business as an investment, plan for personal wealth management and including the business as an asset. The business objective is now to grow and increase value, and not just provide cash flow to be spent by the owner. The second bridge is to understand that the business can be transformed into a product more attractive and valuable to the right new owner.